Al-Suwaidi added that the allowance will be paid starting from July to private sector employees, associations, non-governmental organizations, joint stock companies, private bodies, and private schools at 10% of the insurance pay, unless the internal system allows more. “The worst message for any investor is that the government interferes in the private sector business, so that the Coalition put forward the private sector bonus initiative, which has received acceptance from employers who are responsible for their role,” Al-Suwaidi said. The initiative came in support of the difficult conditions of the country, pointing out that there are several conditions for applying the private sector allowance, mainly, salaries not increasing during the current year. From his part, Ahmed Al-Wakil, Chairman of the Federation of Egyptian Chambers of Commerce (FEDCOC)said that private sector employers are not obliged to respond to the initiative. He noted that the Board of Directors of the F FEDCOC insisted that the allowance be paid without a minimum or maximum.

Source: Daily News Egypt July 12, 2017 16:18 UTC